Smallwood Wealth Investment Management LLC Cuts Position in The Boeing Company (NYSE:BA)

Smallwood Wealth Investment Management LLC trimmed its position in shares of The Boeing Company (NYSE:BA) by 19.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,259 shares of the aircraft producer’s stock after selling 302 shares during the period. Smallwood Wealth Investment Management LLC’s holdings in Boeing were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BA. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Boeing in the 4th quarter worth approximately $363,000. Brio Consultants LLC bought a new stake in Boeing in the fourth quarter worth $207,000. Russell Investments Group Ltd. boosted its stake in Boeing by 18.3% during the fourth quarter. Russell Investments Group Ltd. now owns 80,590 shares of the aircraft producer’s stock worth $21,005,000 after buying an additional 12,493 shares during the period. Intact Investment Management Inc. increased its position in Boeing by 245.0% during the fourth quarter. Intact Investment Management Inc. now owns 3,450 shares of the aircraft producer’s stock valued at $899,000 after acquiring an additional 2,450 shares during the last quarter. Finally, Consolidated Planning Corp raised its stake in shares of Boeing by 2.5% in the fourth quarter. Consolidated Planning Corp now owns 27,882 shares of the aircraft producer’s stock valued at $7,268,000 after acquiring an additional 693 shares during the period. 64.82% of the stock is currently owned by institutional investors.

Boeing Stock Performance

BA traded down $0.35 during trading on Tuesday, hitting $173.13. The stock had a trading volume of 3,290,136 shares, compared to its average volume of 7,917,375. The stock has a 50 day simple moving average of $178.38 and a two-hundred day simple moving average of $182.87. The company has a market capitalization of $106.28 billion, a PE ratio of -48.77 and a beta of 1.56. The Boeing Company has a twelve month low of $159.70 and a twelve month high of $267.54.

Boeing (NYSE:BA) last issued its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analyst estimates of $17.35 billion. The business’s revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.82) EPS. On average, equities research analysts anticipate that The Boeing Company will post -2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

BA has been the subject of several recent analyst reports. Argus lowered Boeing from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Boeing in a research report on Tuesday, June 25th. UBS Group decreased their target price on Boeing from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Wells Fargo & Company cut their price target on shares of Boeing from $190.00 to $185.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $230.00 price target on shares of Boeing in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boeing presently has an average rating of “Moderate Buy” and an average price target of $215.18.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.